Procter & Gamble posts quarterly profit

Thursday, 25 Oct 2012 | 11:06 AM ETReuters

SHARES

Oct 25 (Reuters) - Procter & Gamble Co posted a quarterly profit and maintained its key earnings forecast for the year as the world's largest household products maker cut costs and narrowed its focus on key markets, products and countries.

P&G, which came under added pressure after activist investor William Ackman bought its shares this summer, earned $1.06 per share in the fiscal first quarter on a ``core'' basis, which excludes charges, up from $1.01 per share a year earlier.

On a net basis, earnings fell to 96 cents per share from $1.01 per share, it said on Thursday.